Wells Fargo Refuses To Reimburse Customer After $814,000 Abruptly Drained From Bank Account, Triggering Battle for Life Savings: Report

An elderly Wells Fargo customer suffering from multiple health issues says he lost hundreds of thousands of dollars after falling victim to a bank fraud scheme.

Ninety-year-old Irving Rosenberg says he lost $814,000 to scammers who forged his signature on checks to drain his savings account, reports ABC7 Los Angeles.

But Rosenberg says he never wrote a single check and never authorized anyone to withdraw funds from his Wells Fargo account.

“I was angry and frustrated. It took all my life savings… I was hurt.”

When he reached out to Wells Fargo for assistance, the bank said it would look into his concern.

“They put it to investigation… an investigation could go forever. That’s what they told me.”

Rosenberg says he eventually received a letter from Wells Fargo, denying his fraud claim because the 60-day reporting window had elapsed before he had notified the bank.

David Satin, Rosenberg’s nephew, says copies of the checks clearly show that the signatures were forged.

“If you look at all the checks that were written, none of them even have close to his signature, not even remotely close.”

Satin also says he spoke with Wells Fargo to contest the denied fraud claim, saying that the 90-year-old is in no condition to look after his own affairs.

“I went back to them, and I said, ‘Wait a second. He’s 90. He’s got a little bit of dementia. He can’t hear. He can barely walk. He’s got skin cancer. He’s not noticing these kinds of things, and you guys have no help at all for him.”

After Wells Fargo’s rejection, ABC7 touched base with the bank to learn more about Rosenberg’s claim. In an email to ABC7, Wells Fargo reversed course and said it will make Rosenberg whole.

“After working with our customer and their designated Power of Attorney, and reviewing additional information, we are pleased to share that we are returning Mr. Rosenberg’s money back to his account.

Fraud prevention remains a top priority, and we encourage all customers to review their statements monthly and report anything suspicious right away so we can act quickly to protect them.”

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The post Wells Fargo Refuses To Reimburse Customer After $814,000 Abruptly Drained From Bank Account, Triggering Battle for Life Savings: Report appeared first on The Daily Hodl.